Astec Industries (NASDAQ:ASTE - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Thursday.
Separately, Stifel Nicolaus lowered Astec Industries from a "buy" rating to a "hold" rating and reduced their price objective for the company from $47.00 to $37.00 in a research note on Thursday.
Read Our Latest Stock Analysis on Astec Industries
Astec Industries Stock Performance
NASDAQ:ASTE traded down $0.61 during trading hours on Thursday, hitting $33.16. 453,276 shares of the company were exchanged, compared to its average volume of 139,838. The company's 50 day moving average price is $41.39 and its 200-day moving average price is $37.32. The stock has a market capitalization of $754.06 million, a price-to-earnings ratio of 22.56 and a beta of 1.40. Astec Industries has a 52-week low of $28.97 and a 52-week high of $56.33. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.41 and a quick ratio of 0.88.
Astec Industries (NASDAQ:ASTE - Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.47). The firm had revenue of $309.20 million during the quarter, compared to analysts' expectations of $343.27 million. Astec Industries had a return on equity of 9.46% and a net margin of 2.50%. The company's revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share. As a group, research analysts forecast that Astec Industries will post 2.9 earnings per share for the current year.
Hedge Funds Weigh In On Astec Industries
Hedge funds have recently bought and sold shares of the business. Quest Partners LLC acquired a new stake in Astec Industries in the 4th quarter valued at $42,000. GAMMA Investing LLC acquired a new stake in shares of Astec Industries in the fourth quarter valued at about $44,000. TFO Wealth Partners LLC increased its stake in shares of Astec Industries by 41,600.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,251 shares of the industrial products company's stock worth $47,000 after purchasing an additional 1,248 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in Astec Industries during the 1st quarter worth approximately $98,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Astec Industries during the third quarter worth approximately $123,000. Hedge funds and other institutional investors own 93.16% of the company's stock.
About Astec Industries
(
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Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.
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